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M and T Bank <br />FM M&T Bank Trade Finance Operations <br />1800 Washington Boulevard 8th Floor, MC-MD1-MP37 <br />Baltimore, MID 21230 <br />Tel: Letters of Credit: (410) 244-4475 / 4587 <br />Tel: Collections: ((410)) 244-4566 <br />SWIFT: MANTUS33INT <br />Irrevocable <br />Standby Letter <br />SB1988050001 <br />of Credit No.: <br />Beneficiary: <br />INDIAN RIVER COUNTY <br />BOARD OF COUNTY COMMISSIONERS <br />1801 27TH STREET <br />VERO BEACH, FL 32960 United States <br />Date of Issue: <br />October 24, 2016 <br />Amount: <br />Not Exceeding USD 68,134.48 Sixty Eight <br />Hundred Thirty Four and 48/100 United Q1 <br />Applicant: <br />SR 60 VERO, LLC <br />105 FOULK ROAD <br />WILMINGTON, DE 19803 United States <br />p—, <br />ISSUING BANK'S <br />WE HEREBY EST EVBLE STANDBY LETTER OF CREDIT IN YOUR FAVOR FOR THE <br />ACCOUNT OF S VER C RAN AMOUNT NOT TO EXCEED IN AGGREGATE SIXTY EIGHT <br />THOUSAND ONE NDRE HI FOUR AND 48/100 US DOLLARS ($68,134.48) AVAILABLE BY YOUR <br />SIGHT DRAFT(S) M AND T BANK BEARING THE CLAUSE, "DRAWN UNDER M AND T BANK <br />IRREVOCABLE STA ETTER OF CREDIT NO. SB1988050001 DATED OCTOBER 24,2016,' <br />ACCOMPANIED BY THE FOLLOWING: <br />1. THE ORIGINAL OF THIS LETTER OF CREDIT AND ALL AMENDMENTS, IF ANY. <br />2. A LETTER FROM THE COUNTY ADMINISTRATOR OR HIS DESIGNEE, WITH APPROVAL SIGNATURES <br />OF THE COUNTY ATTORNEY OR HIS DESIGNEE, AND THE DIRECTOR OF OFFICE OF MANAGEMENT <br />AND BUDGET OR HIS DESIGNEE, STATING: SR 60 VERO LLC HAS DEFAULTED UNDER THE TERMS OF <br />THE CONTRACT FOR CONSTRUCTION OF REQUIRED IMPROVEMENTS NO PD -14-06-04 (98010178- <br />76813) RELATING TO THE RESERVE AT VERO BEACH P.D. PHASE 2, AND THAT THE AMOUNT OF THE <br />DRAFT REPRESENTS THE AMOUNT REQUIRED BY THE COUNTY TO FULFILL THE PERFORMANCE OF <br />SAID CONTRACT. <br />SB1988050001 ATTACHMENT 4 Page 1 of 73 <br />